The world is going electric. All the auto majors are dabbling into the new emerging market. And when government and corporates have shaken hands to make the industry greener, we are assured of a lot of activity in the sector. With Tesla making headlines throughout the world, other companies also don’t want to stay behind. And now, Japanese automaker Honda is also planning to launch an EV in the Indian market.
Honda Electric Motorcycle will arrive in India in the next financial year
Two-wheeler major Honda Motorcycle & Scooter India (HMSI) is planning to launch its first electric product in India in the next financial year. Â HMSI President, Managing Director, and CEO Atsushi Ogata noted that the company has decided to foray into the segment after having a detailed discussion with its parent firm — Honda Motor Company in Japan.
“In-depth details are yet to be finalized but we have made a commitment to launch (EV product) within the next financial year”, he said. The company has not started to test on Indian roads yet, but after Diwali, is planning to set up the feasibility study at dealerships.
Change in Customer Behaviors
Customers have started using the EVs for short commutes in the city environment but for long-distance traveling and rural areas, internal combustion engine two-wheelers still had an edge, Mr. Ogata noted.
“Some customers are using electric two-wheelers for very short commutes or very flat street conditions in big cities. So such customers have started to consider such options but still, I think major customer segments are preferring to keep our existing line-up because still in front of EV products, existing ICE engine specs have a lot of positive points,” Ogata added further
Face of the Auto sector is changing
As the government is pushing for clean technologies in the automotive sector, the EV segment is witnessing a lot of action in the country. Just like the ecosystem of IC Engine-powered vehicles involved Petrol Pumps, the EV ecosystem will involve battery management systems. And hence the company is also considering tapping the opportunity in the battery management systems.
Hero MotoCorp has also announced that it is looking to launch an electric model next year. The company has tied up with Taiwan-based Gogoro Inc to bring the latter’s battery-swapping platform to India.
At the same time, TVS will launch a complete range of electric two and three-wheelers in the next two years. Even though the company has earmarked an investment of Rs 1,000 crore on its electric vehicles (EV) business, it will also continue to invest in conventional engine vehicles, where it sees growth opportunities.
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